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Dairy economist Mark Stephenson said US milk prices are rangebound, moving up 25-50 cents for a few days before falling again. He noted EU efforts to reduce skim milk powder intervention stocks could eventually help global prices, while US dairy needs stronger exports for a sustained recovery.
Prices are stuck in a narrow range with no clear direction, so the near-term outlook for MILK stays neutral until EU stock reductions or stronger US exports tighten the market.
brownfieldagnews.comLarry LeeNov 16, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
